International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.

Project Status

Approved

Bank Risk Rating

A

Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.

Voting Date

Jun 15, 2017

The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.

Borrower

Georgia

The holder of the loan, grant, or other investment.

Sectors

Transport

The service or industry focus of the investment. A project can have several sectors.

Investment Amount (USD)

$ 114.00 million

Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.

Project Cost (USD)

$ 315.20 million

Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.

Project Description

According to AIIB documents, this project will finance the construction of a new two-lane 14.3 km long highway to provide a bypass to the Batumi port city (second largest city in Georgia). The road will be constructed on a new alignment, which passes through a number of mountainous settlements. Due to hilly nature of the terrain, this stretch of road requires construction of 5 tunnels and 19 bridges over rivers and valleys. Additionally, the controlled-access highway will have 4 grade separated interchanges to regulate traffic ingress/egress. The Project will also finance construction supervision and quality assurance services associated with the civil works including specialized structural and geotechnical works.

Investment Description

Asian Infrastructure Investment Bank (AIIB)

The AIIB will invest $114 USD million. The project is estimated to cost $315.2 USD million.

Contact Information

Contact Points
AIIB: Project Team Leader
Mr. Ghufran Shafi
Project Team Leader/Senior Investment Operations Specialist
Tel: +86 10 8358 0171
E-Mail: gshafi@aiib.org
Asian Development Bank (ADB):
Mr. Dong Soo Pyo
Lead Professional (Transport)
Tel : +632 632 5167
Email: dspyo@adb.org
Borrower:
Ms. Mzia Giorgobiani
Deputy Head of Public Debt and External Financing Department, Ministry of Finance
Tel: +995 32 2261444
Email: info@mof.ge
Implementation Agency:
Mr. Zaza Simonia
Deputy Chairman, Roads Department of Georgia
Tel: +995 32 376216
E-Mail: zaza.simonia@georoad.ge
ACCOUNTABILITY MECHANISM OF AIIB
In addition, the AIIB has a Bank Oversight Mechanism. According to AIIB's policies, "people who believe they have been or are likely to be adversely affected by a failure of the Bank to implement the ESP may also submit complaints to the Bank's oversight mechanism in accordance with the policies and procedures to be established by the Bank for such mechanism." However, at the time of writing, it is unclear what the exact scope and function of this Oversight Mechanism will be.